The Government of India announced a savings scheme in January 2015 called the Sukanya Samridhdhi Yojana - which enables parents to save money for their girl child for use when the child turns 21 years of age, with the highlight being that the returns from this scheme will be tax free and the money invested in this can be filed under the 80C scheme for current income tax benefits.
Here are some links that give more details about this -
http://www.onemint.com/2015/03/03/sukanya-samriddhi-yojana-tax-free-small-savings-scheme-for-a-girl-child/
http://www.indiapost.gov.in/SukanyaSamriddhi.aspx
Sounds like an interesting scheme.
Here is a downloadable PDF link to the above OneMint article incase you find the blog link to be dead.
Here are some links that give more details about this -
http://www.onemint.com/2015/03/03/sukanya-samriddhi-yojana-tax-free-small-savings-scheme-for-a-girl-child/
http://www.indiapost.gov.in/SukanyaSamriddhi.aspx
Sounds like an interesting scheme.
Here is a downloadable PDF link to the above OneMint article incase you find the blog link to be dead.
